Share to ClassroomUS Loses 23,000 Jobs in July
In July, the United States lost 23,000 jobs. This surprised experts. They thought the country would add about 80,000 jobs. The government also said May and June were worse than first reported. The unemployment rate went down, from 4.2% to 4.1%. But that is because many people stopped looking for work.
Schools, hotels, restaurants and shops lost the most jobs. Building companies and hospitals added jobs. People have different ideas about the news. The White House said its plans were working. But a jobs website said workers feel worse than ever before.
Now people are watching the Federal Reserve, the American central bank. It decides the cost of borrowing money. Prices are still rising fast. But the job market is getting weaker. Experts do not expect the bank to raise rates in September. Pay rose only 3.2% in one year.
